Digital currency, Bitcoins

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Digital currency, Bitcoins

  1. 1. DIGITAL CURRENCY, BITCOINR E T H O R I C S K I L L S P R E S E N T A T I O NF E S S E H A T S E G A Y E M A M OH O C H S H U L E O F F E N B U R GA P R I L 2 0 1 3
  2. 2. CONTENTS• Money and Digital Currency• Cryptocurrency• Bitcoin Concept Statistics and market vlaue What can you do with bitcoins?
  3. 3. MONEY AND DIGITAL CURRENCY• Electronic money that acts asalternative currency• They are not produced bygovernment-endorsed banks• Unlike virtual money they are used intransactions of real goods andservices
  4. 4. DIGITAL CURRENCIEShttp://en.wikipedia.org/wiki/Digital_currency
  5. 5. CRYPTOCURRENCY• Holder has ownership• No other records kept as to identity of owner• Easy to keep anonymoushttp://en.wikipedia.org/wiki/Digital_currency
  6. 6. CRYPTOCURRENCY ...• Hard or impossible to replace if lost or stolen• Derives trust from mathematical properties• Based on established, trusted cryptographicprimitiveshttp://en.wikipedia.org/wiki/Digital_currency
  7. 7. BITCOIN• Decentralized• Anonymous• Created via peer-to-peer networks• Concept created by „Satoshi Nakamoto“
  8. 8. BITCOIN CONCEPT• Public but anonymous transactions• Based on block chaining of cryptographically-signed transactions• Miners – secure the system
  9. 9. BITCOIN CONCEPT ...• Miners are awardedbitcoins or transactionfees for successfullyfinding blocks• ~21million bitcoinshttps://en.bitcoin.it/wiki/File:Total_bitcoins_over_time_graph.png
  10. 10. BITCOIN STATISTICShttp://en.wikipedia.org/wiki/Digital_currency
  11. 11. BITCOIN STATISTICS ...http://blockchain.info/charts/
  12. 12. BITCOIN MARKET VALUEhttp://blockchain.info/charts/
  13. 13. WHAT CAN YOU DO WITH BITCOINS?• Snacks• Vitamins and supplements• Website hosting• A sports car!http://blockchain.info/charts/
  14. 14. http://blockchain.info/charts/
  15. 15. Traveling the Silk Road: A measurement analysis of a large anonymous online marketplace
  16. 16. http://wikispeed.com/Affordable
  17. 17. Thank you!Any Quesitons?

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